Median existing home prices in San Joaquin County jumped above $200,000 last month, up 26.5 percent in just 12 months.

The increases in home prices here echo increases in both the state and nation.

“Housing is now the strongest part of the economy in growth terms,” said Jim O’Sullivan, chief U.S. economist at High Frequency Economics.

The California Association of Realtors said Thursday that year-over home sales in the county dropped about 11 percent — blamed largely on the continued lack of inventory — while median prices increased to $206,190 in May. That was up 5.2 percent from April.

“It’s encouraging to see median home prices across most parts of the state continuing to recover,” said CAR President Don Faught.